RenovoRx (NASDAQ:RNXT) Price Target Raised to $12.50

RenovoRx (NASDAQ:RNXT) had its price target lifted by Ascendiant Capital Markets from $12.00 to $12.50 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RenovoRx in a report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.75.

RenovoRx Stock Up 1.5%

Shares of RenovoRx stock traded up $0.01 on Friday, reaching $0.81. The company’s stock had a trading volume of 57,048 shares, compared to its average volume of 277,317. The company has a market capitalization of $29.61 million, a P/E ratio of -2.13 and a beta of 1.29. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.69. The stock has a 50-day moving average price of $1.11 and a 200-day moving average price of $1.18.

RenovoRx (NASDAQ:RNXT) last announced its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.41 million. Sell-side analysts forecast that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RenovoRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new position in shares of RenovoRx in the 1st quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. acquired a new stake in RenovoRx during the 2nd quarter worth approximately $98,000. Chicago Partners Investment Group LLC purchased a new position in RenovoRx in the 1st quarter valued at approximately $97,000. Citadel Advisors LLC acquired a new position in shares of RenovoRx in the third quarter worth $154,000. Finally, Corsair Capital Management L.P. purchased a new stake in shares of RenovoRx during the first quarter worth $186,000. Institutional investors and hedge funds own 3.10% of the company’s stock.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.